Bitcoin has lost $BTC
Its bullish momentum slightly wanes as it approaches its all-time high at $111,000, with strong selling pressure emerging at this key level.
The price is still struggling to reclaim this level, indicating a potential period of consolidation or corrective movement in the coming days.
Technical Analysis
The Daily Chart
The bullish rise of Bitcoin $BTC towards its all-time high at $111,000 shows signs of exhaustion, as the price has lost momentum near this key resistance level. The inability to reclaim the previous high around $110,000 indicates the potential formation of a double top pattern, a traditional bearish reversal signal.
Currently, Bitcoin is experiencing consolidation within a critical price range, bounded by its all-time high at $111,000 and a fair value gap between $103,000 and $104,000. Given the apparent weakness in upward momentum, a short-term rejection and further consolidation within this area are likely. However, the FVG indicator may act as a significant demand zone, potentially halting any deeper corrections and providing a foundation for another upward attempt towards the $111,000 level.
The 4-Hour Chart
The 4-Hour Chart
On the 4-hour timeframe, Bitcoin failed to register a new peak above $110,000, as it faced notable rejection at this resistance level. This price movement confirms the presence of increased selling pressure and distribution behavior near the all-time high area, reinforcing that the $111,000 level is a key barrier.
Bitcoin is currently trading between two key liquidity zones: one just below $105,000 and the other above $110,000. These liquidity pools are attractive targets for institutional investors and may lead to short-term price volatility. Consequently, price movement is expected to remain within a narrow range between these levels until a decisive breakout occurs, likely resulting from a sweep of liquidity in either direction.
Sentiment Analysis
Sentiment Analysis
Over the past 45 days, Binance derivatives users have engaged in continuous selling activity. Nevertheless, Bitcoin's price has remained within a price range of $100,000 to $110,000, while the cumulative volume delta (CVD) indicator has shown a persistent negative trend throughout this period.
The cumulative volume delta indicator, which measures net buying and selling volume flow in real-time, highlights a clear dominance of aggressive selling pressures. However, the price's ability to hold steady without further decline suggests a potential absorption phase, likely originating from institutional investors or major players quietly accumulating.
This ongoing divergence between continuous selling flow and price stability suggests that Bitcoin may be forming a strong base. If the current structure holds, with absorption continuing within the range, the likelihood of a bullish breakout increases, potentially paving the way for renewed upward momentum.
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